Van ECK Associates Corp Sells 921,979 Shares of MAG Silver Corp. (NYSEAMERICAN:MAG)

Van ECK Associates Corp lessened its holdings in shares of MAG Silver Corp. (NYSEAMERICAN:MAG - Free Report) by 9.0% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 9,309,431 shares of the company's stock after selling 921,979 shares during the quarter. Van ECK Associates Corp owned approximately 9.01% of MAG Silver worth $126,580,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Allspring Global Investments Holdings LLC raised its holdings in shares of MAG Silver by 56.6% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 278,000 shares of the company's stock worth $3,781,000 after acquiring an additional 100,500 shares during the period. Strategic Financial Concepts LLC purchased a new position in shares of MAG Silver during the 4th quarter worth $240,000. JPMorgan Chase & Co. raised its holdings in shares of MAG Silver by 69.1% during the 3rd quarter. JPMorgan Chase & Co. now owns 456,335 shares of the company's stock worth $6,407,000 after acquiring an additional 186,445 shares during the period. Tidal Investments LLC raised its holdings in shares of MAG Silver by 3.6% during the 3rd quarter. Tidal Investments LLC now owns 2,810,051 shares of the company's stock worth $39,453,000 after acquiring an additional 98,312 shares during the period. Finally, Barclays PLC raised its holdings in shares of MAG Silver by 211.5% during the 3rd quarter. Barclays PLC now owns 30,780 shares of the company's stock worth $432,000 after acquiring an additional 20,899 shares during the period. Institutional investors and hedge funds own 52.50% of the company's stock.

Wall Street Analyst Weigh In

Several research firms have issued reports on MAG. StockNews.com upgraded MAG Silver from a "sell" rating to a "hold" rating in a research report on Thursday, October 24th. Roth Capital lowered MAG Silver from a "strong-buy" rating to a "hold" rating in a report on Thursday, October 24th. HC Wainwright upped their target price on MAG Silver from $20.00 to $21.00 and gave the company a "buy" rating in a report on Thursday, January 30th. Finally, Roth Mkm lowered MAG Silver from a "buy" rating to a "neutral" rating and upped their target price for the company from $17.00 to $17.50 in a report on Thursday, October 24th. Four equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, MAG Silver currently has a consensus rating of "Hold" and an average target price of $18.63.

MAG Silver Price Performance

MAG Silver stock traded down $0.70 during trading hours on Monday, hitting $16.40. The company had a trading volume of 937,878 shares, compared to its average volume of 529,993. MAG Silver Corp. has a 1 year low of $8.19 and a 1 year high of $18.27. The stock has a market cap of $1.70 billion, a price-to-earnings ratio of 23.10 and a beta of 1.09.

MAG Silver Company Profile

MAG Silver Corp. develops and explores for precious metal properties in Canada. It explores for silver, gold, lead, copper, and zinc deposits. The company's flagship property is the 44% owned Juanicipio property located in the Fresnillo District, Zacatecas State, Mexico. MAG Silver Corp. is headquartered in Vancouver, Canada.